Bausch Will Look At Selling Eye Care Business If It Doesn't See Increase In Overall Valuation
CEO Joseph Papa says firm isn’t valued equal to sum of its parts. "If some of the parts don't seem to make sense or don't seem to be capturing the full value of a business,” Bausch “will look at all the alternatives for looking at things like spin-offs of parts of the business,” he says.
You may also be interested in...
Bausch reported global sales of Lumify eye drops, PreserVision supplements and other consumer health products up 8.9% to $353m. However, its net loss grew to $152m from $52m in the year-ago period on a $65m dent in its income due to mass postponements of ocular and dermatologic surgeries.
Lumify eye drops, the first OTC brimonidine tartrate ophthalmic solution 0.025% in the US, will reach stores in late May. Corporate name change, says CEO Joseph Papa, shows Valeant is "beginning to turn the page away from legacy issues that have been headwinds over the past few years."
FDA’s latest COVID-19 warnings note fewer violative claims than identified in previous warnings to consumer health firms. One had a single noncompliant claim on its website, while another’s violations included identifying potential symptoms of COVID-19. Four men associated with a Florida church face counts of conspiracy to defraud the US and of contempt of court stemming from COVID-1 claims for a bleach solution.